Economy

Look Which STATE May Be The First To File For BANKRUPTCY…

More Democrat run States are suffering from financial mismanagement.

Although Puerto Rico and California are also known for their financial struggles the latest and possibly most scandalous is that of Illinois. As an entire state Illinois may be the first state ever to fully declare bankruptcy and already has a dismal credit rating that sits at the lowest in the country. Democrats continue doing a bang up job anywhere they are left in charge.

What do virtually all places –whether cities, states or nations — that have for decades been run by liberals have in common? Answer? Sky high taxes, sky high costs of living, and a steady march toward insolvency.

When Detroit went belly up in 2012 it became the largest municipal bankruptcy in U.S. history. Everyone knows who’s run Detroit for decades. In earning the title of largest municipal bankruptcy, Detroit vaulted past Stockton and San Bernardino, both cities run by liberal Democrats since forever.

Illinois may become the first state in U.S. history to have to file for protection in bankruptcy court. How dire is the situation? CBS News reports:

“Illinois residents may feel some solidarity with the likes of Puerto Rico and Detroit.
A financial crunch is spiraling into a serious problem for Illinois lawmakers, prompting some observers to wonder if the state might make history by becoming the first to go bankrupt.

Why do they continue to get voted into office? O that’s right, by cheating.

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